Merchant Square, Belfast

Loan for redevelopment of vacant office building to Grade A accommodation. NIIF funded one of the first speculative office schemes built in Belfast for several years.

The NIIF loan was utilised alongside equity and mezzanine funding to redevelop three existing buildings to create a new, Grade A, over 200,000 sq. ft office building in the centre of Belfast. Once substantially underway it was let to PwC, who use it to employ c.3,000 people in Belfast.

The scheme was developed by Oakland NI. The loan has now been repaid in full.